📑 BYJU’S adopts new strategies; CEO departure highlights Ola's challenges

The most interesting news selected specially for you! 12 May 2024 [View in Browser]( POWERED BY Hello, Now, startups and enterprises can enhance their brand engagement by partnering with YourStory and advertising on our YS Buzz and Weekly Wrap newsletters. [Click here]( to know more. In today's newsletter, we will talk about: - BYJU’S adopts new strategies - CEO departure highlights Ola's challenges - Building tech for the public - Gen Z in the workplace - S Jaishankar on electing a suitable PM Here’s your trivia for today: Pago Pago is the capital of which country? --------------------------------------------------------------- Edtech BYJU’S adopts new strategies edtech firm BYJU’S seeks to distance itself from its earlier aggressive sales tactics to a strategy where salespeople are tasked with counselling rather than selling, as the company aims for revival amid increasing challenges. As part of the new strategy, BYJU'S sales executives will have increased flexibility and greater earning opportunities, sources aware of the development said. The company has also reduced its product prices around the start of the academic year. Revisiting plans: - BYJU'S has introduced a system where sales associates can receive 100% of directly closed sales into their accounts the following working day, with managers receiving 20% of the same from the company—at a time when the edtech company struggles to meet payroll. - Following the clearance of arrears, associates are slated to receive 50% of closed sales, while managers will obtain 10%. - It has also slashed the annual subscription fee for its BYJU’S Learning App to Rs 12,000. As per sources, BYJU’S Classes and BYJU’S Tuition Centres (BTC) are now priced at Rs 24,000 and Rs 36,000, respectively, for a full year. The drop in the prices is around 30%. [Read More]( --------------------------------------------------------------- From the CapTable CEO exit highlights Ola’s mounting ride-hailing struggles Last week, SoftBank-backed Ola Cabs announced that CEO Hemant Bakshi would leave the company after only eight months at the helm of the ride-hailing unicorn. Just four months ago, though, Bakshi was the very picture of confidence, full of bluster and belief that Ola’s e-bike taxis would disrupt the two-wheeler ride-hailing space. Indeed, it wouldn’t be a stretch to say that scaling the e-bike taxi service was Bakshi’s primary mandate.Today, Bakshi is an increasingly distant speck in Ola’s rearview mirror and, far from disrupting the ride-hailing space with its fleet of electric scooters, Ola finds itself being disrupted. Newer, nimbler players with zero-commission models are upending the industry. Despite Aggarwal maintaining that Ola is the country’s biggest ride-hailing company, multiple industry executives say that Rapido beat Ola in terms of total number of rides across categories this February. Not only are Ola’s e-bike taxi plans yet to truly take off, the company quietly relaunched regular bike taxis in Bengaluru recently in its quest to catch up to Rapido. Key takeaways: - Last week, ride-hailing company Ola announced its CEO Hemant Bakshi would be leaving the company after just 8 months at the helm. - His exit comes at a time when rival Rapido claims to have leapfrogged its older rival in terms of rides per day, largely on the back of its thriving bike-taxi business. - Meanwhile, Ola’s e-bike taxi business, which it touted as a massive disruptor, is yet to truly scale. - A reliance on gig workers, the immature EV market, and regulatory headwinds, among others, have hampered its spread. [Continue Reading]( --------------------------------------------------------------- DevSparks Building tech for the public In the last couple of years, the country has produced milestone apps and technology for the population at large—ranging from Aadhaar, UPI, to Digi Yatra and Namma Yatri (a product of Juspay). Vimal Kumar, Founder of payment infrastructure company Juspay, and Ram Kunchur, Head of Product Innovation at Digi Yatra Foundation spoke about building these apps at DevSparks 2024. Key takeaways: - The conversation revolved around the importance of digital public infrastructure, privacy, and security in the fintech sector. - Kunchur emphasised the safety of Digi Yatra app. “None of data is stored centrally. It (the data) is all in your mobile device. If someone has to hack your Digi Yatra app, they have to hack all four million mobile users,” he said when asked about the recent controversy surrounding the platform. - According to Kumar, developers need to go beyond the stack when it comes to app building. “Building blocks of public infrastructure are essentially the scientific fundamentals and mindset, along with the participation of the government,” he said. [Read More]( --------------------------------------------------------------- In-depth GenZ at workplace Z—individuals born between 1997 and 2012—are one of the primary drivers of change in today's workplace, a 2023 research by Deloitte says. They are digital natives, having grown up with smartphones and social media, and are often the ‘trendsetters, trend enders, the influenced, and the influential’. YS Life takes a look at how GenZ is shaping India’s workspace. Trendsetters: - As individuals who are exposed to technology at a young age, Gen Z is tech-savvy and seamlessly integrates advanced tools into their work lives. It helps with improved efficiency and eventually their desire to achieve a healthy work-life balance. - Gen Z also walks the talk when it comes to diversity and inclusion—which is why they are on the lookout for organisations that align with this mindset. - While there are many pluses to hiring Gen Z, their casual attitude and vocabulary can mislead colleagues from other generations to consider them unprofessional. [Read More]( --------------------------------------------------------------- Interview S Jaishankar on electing a suitable PM 2019, India has had to navigate several international crises, including a pandemic, the War in Ukraine and a flare-up in West Asia. During this period, the Indian economy has also boomed, with startups becoming a key engine for this economic growth and employment generation. “I believe that the next five years will be tough... We need strong hands and sure instincts to take India through this turbulence,” says S Jaishankar, the Union Minister of External Affairs, in an interview with Shradha Sharma. Courage and experience: - “This is an era of chips, AI, EV, and drones, but we need to ‘Make in India’ in all these fields. India needs a leader who will make actionable plans to excel in such upcoming opportunities, something I consider the milestones for Viksit Bharat (developed India)," the Minister explains. - Under the current government’s regime, S Jaishankar says that every decision is finalised only after reviewing feedback. This, he adds, leads to a better evaluation of proposals and ideas. - “Ask the leader about their achievements, their track record of promises made, and benefits delivered. Look at the past track record, the future opportunities, and also the challenges the country may face,” he says. [Read More]( --------------------------------------------------------------- News & Updates - [Homecoming:]( Stock broking app Groww has shifted its domicile back to India from the US, signalling a broader trend among the local startup community. The Bengaluru-headquartered startup made the transition in March, Co-founder and CEO Lalit Keshre said. - [AI images:]( OpenAI is launching a tool that can detect images created by its text-to-image generator DALL-E 3, the Microsoft-backed company said amid rising worries about the influence of AI-generated content in this year's global elections. - [Investigation:]( Boeing faces a new investigation after the planemaker told US regulators it might have failed to properly carry out some quality inspections on its 787 Dreamliner planes. The US Federal Aviation Administration said it was “investigating whether Boeing completed the inspections and whether company employees may have falsified aircraft records”. Did you know? Pago Pago is the capital of which country? Answer: American Samoa. We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. If you don’t already get this newsletter in your inbox, [sign up here](. For past editions of the YourStory Buzz, you can check our [Daily Capsule page here](. [Feedback]( [Unsubscribe]( [Newsletters](